High Throughput Screening Market Is Predicted To Reach USD 23.6 Billion With A CAGR Of 7.80% According To Market Data Forecast Report.

The High Throughput Screening Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the High Throughput Screening Market is estimated to be USD 16.21 billion in 2018 and predicted to rise to USD 23.6 billion by 2023 with a CAGR of 7.80%. The market is segmented by Technology (Cell-based Assays (2D & 3D Cell Culture), Lab-on-a-chip, Ultra-High-Throughput Screening, Label-Free Technology, Bioinformatics), Application (Target Identification, Primary Screening, Toxicology, Others), Product (Consumables and Reagents, Instruments, Software and Services), and End User (Pharmaceutical And Biotechnology Companies, Academic And Government Research Institutes, Contract Research Organizations And Other End Users). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.

Factors such as technological advancements in automation of liquid handling, the creation of novel technological platforms, and development of analytical tools to deal with massive quantities of data have exponentially driven the market for high throughput screening devices market. Growing competition among pharma companies has led to an increased demand for high throughput screening devices. HTS market is expected to witness positive growth due to its inevitable use in the research and production field. Furthermore, the increasing demand in research, huge capital investments in the HTS technology, the rise in outsourced drug discovery services, and increasing utilization rate of HTS technologies by pharmaceutical companies are key factors aiding the market growth. Be that as it may, the capital-intensive nature, need for extensive automation techniques, and high regulatory intervention and costs are turning out to be restraints for the market.

The global High Throughput Screening market is segmented on the basis of Technology, Application, and Product. On the basis of Technology, the market is segmented into Cell-based Assays, Lab-on-a-chip, Ultra-High-Throughput Screening, and Label-Free Technology Bioinformatics. The Call- Based assays segment is further segmented into 2D and 3D Cell Culture. On the basis of Application, it is segmented into Target Identification, Primary Screening, Toxicology, Others. On the basis of product, the market is segmented into Consumables and Reagents, Instruments, and Software and Services. Consumables and reagents held the largest share of the products and services market. The presence of a wide range of reagents and continual product developments and innovations contributes to their largest share in HTS products and services market. On the basis of end users, the market is segmented into Academic and Government Research Institutes, Pharmaceutical and Biotechnology Companies, Contract Research Organizations and Other End Users. Other end users segment comprises of hospitals and clinics, and food, agriculture, and environmental industries. The pharmaceutical and biotechnology companies segment held the largest share of the market by end users. The widespread use of the HTS technology in pharmaceutical and biotechnology companies for drug discovery applications is the major factor driving the growth of this market.

On the basis of geography, the High Throughput Screening market is segmented into various regions namely North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America held the largest share of the market, followed by Europe, and Asia Pacific. Growth in the developed regions such as North America and Europe is primarily driven by the large spending on pharmaceutical R&D and high adoption of HTS and availability of government funding, and the presence of major companies in this region. Asia Pacific is expected to register the highest CAGR during the forecast period. Latin America is projected to witness lucrative growth in the coming years. This can be attributed to the growing R&D spending, rising trend of outsourcing drug discovery services; growing public-private partnerships, and increasing government funding.